A Guide of B2B Collections Best Practices | Popular

Extending credit is a common practice for organizations operating in the B2B space. It allows businesses to make bulk purchases to meet customer demands. These businesses then need to generate sales to pay you back. How well they accomplish this depends on the strength of their sales and accounts receivable practices, which can create delays…

The transportation industry can take many forms. Examples range from transportation and logistics to customer-focused transportation. Consumer-based transit tends to be more cash-heavy and generally involves immediate payment. However, transportation and logistics have not fully capitalized on the ability to automate collections. 3 Ways That Automation Can Boost Your Business If you’re still using spreadsheets…

The AR collection process directly impacts cash flow in a business. Is it any wonder that so many financial professionals focus their efforts on collection optimization? Focus alone, however, is not enough to deliver results. Managers also need to strategize to achieve their business goals. Use these tips to help you control and improve your…

Having a well-planned and executed ERP implementation process improves your company’s efficiency and bottom line. It also reduces the risks associated with potential downtime and service disruptions. Achieving this requires familiarity with the right steps and some best practices. The Role of ERP in Accounts Payable Enterprise resource planning software streamlines and automates business processes….

Companies of all sizes and shapes are leaning into enterprise resource planning (ERP) systems and the benefits they provide to business management, customer service, and internal efficiency. In 2022, the role of the ERP is more important than ever as companies struggle to emerge from a post-pandemic world, battling razor-thin margins and unprecedented shifts in…

Do you need to collect cash faster from your customers? If so, you’re not alone. One Forbes article suggests that 60% of small businesses struggle with cash flow problems. Luckily, you can use several methods to speed up the credit-to-cash process. Get paid faster and reduce the time you spend chasing unpaid invoices. Understand the…

Accounts receivable management is one of your organization’s most crucial administrative roles. It determines how much money comes into your business and how well it performs. Not surprisingly, you likely spend a lot of time looking for new ways to improve your A/R and cash flow. Consider adding these best practices to your routine. 1….

The biggest differences between business-to-business (B2B) collections and business-to-consumer (B2C) collections are the stakes at risk. Business accounts are understandably larger, and their timely collection has a bigger impact on your cash flow and liquidity. As such, B2B collections optimization is a necessary goal for most companies. But creating a good B2B collections experience isn’t…